Close pension gaps through targeted investing
To achieve their retirement goals, women need to understand how to grow their wealth and increase their financial security.
Do you know your retirement situation? Can you maintain your lifestyle in retirement? We give you some suggestions for your pension planning.
Imagine you are 60 years old and about to retire. What standard of living would you like to have in the future? What plans do you have after you’ve stopped working? Are you financially prepared for unforeseen events? Although a lot of people don’t feel comfortable dealing with the subject, pension planning is an important issue, especially for women. In order to avoid it turning into something negative, here you will find various tips and an overview of the most pressing issues, which are all too often neglected.
Why pension planning is particularly important for women
When it comes to retirement planning, women often start from a weaker position than men. They often reach the limits of their maximum earned income at an early age, while men are more likely to receive salary increases until old age. The difference in income between women and men – the gender pay gap – leads to a lower retirement pension and hence to a gender pension gap – which in some cases can be substantial.
Women’s lower income can often be explained by a maternity break, frequently associated with a switch to reduced working hours. People who earn less are able to save less money for old age – and therefore have a smaller pension. Unforeseeable events such as divorce or loss of income due to illness or accident can also have a negative impact on retirement capital.
How to make full use of all the possibilities when planning your pension
The sooner you start thinking about pension planning, the better. If you start building up your personal pension provision at a young age, you can look forward to retirement with confidence. A few years before the official retirement age, you should start making specific plans for your pension. This will allow you to react in time in case of foreseeable financial difficulties. Alternatively, you might even discover that early retirement is possible.
It is best to combine all three pillars (AHV, pension fund and private retirement savings):
What standard of living would you like to have in retirement?
Planning for retirement involves taking an honest look at your own finances. Think about the standard of living you want for your retirement and the costs involved. Based on this, you can define your savings goals for retirement planning and will have the opportunity to invest your money accordingly:
What could possibly upset your plans?
Check your pension and financial situation regularly. An up-to-date overview serves as a basis for taking every eventuality into account, and will allow you to plan your pension accordingly:
How great is your confidence in the pension system?
It is difficult to say what the future of retirement provision looks like – but demographic change, a fluctuating labor market and the current economic situation pose major challenges for the Swiss pension system. Not least for this reason, it’s worth supplementing the state pension with a private pension plan such as p illar 3a.
Take responsibility: trust is good, control is better!
The main rule is that trust is good, control is better. You are responsible for your own retirement planning. Remain financially independent and do not rely on your occupational pension provision or on the protection provided by your partner. Investigate your private retirement planning at an early stage. There are many ways to make your own provisions for retirement in a pro-active way. We will be pleased to help you to find the best solution for your situation.
To achieve their retirement goals, women need to understand how to grow their wealth and increase their financial security.
Matters of the heart: through UBS Women’s Wealth, Sandra Huber-Schütz has dedicated herself to promoting financial literacy and women’s independence. Find out in this interview why the one cannot be separated from the other.
Too few women are taking control of their retirement planning. Our experts Sandra Huber-Schütz, Christa Emminger and Jackie Bauer explain why it is so important and what you should pay particular attention to.
Because a personal conversation is worth a lot
What can we do for you? We’re happy to address your concerns directly. You can contact us in the following ways:
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